Cielo, formerly known as Visanet Brazil, will complete the deployment of the countertop terminals by the end of September, a Hypercom spokesman said. "It's an emerging payments market," he said. "The economy is growing. The number of merchants is growing."
The contract is worth "multimillions," Hypercom said. Online, the T4205 device sells for between $153 and $190.
The deal, which Hypercom announced Thursday, is "strategically important" for the terminal maker, said George Sutton, senior research analyst at Craig-Hallum Capital Group LLC. "It will have a revenue impact likely in the handful of millions."
Cielo said it processed 3.4 billion credit and debit transactions in 2009.
